SAP SE is a global enterprise application software company. The company is headquartered in Walldorf, Germany.
| Revenue (TTM) | $38.19B |
| Gross Profit (TTM) | $28.13B |
| EBITDA | $11.76B |
| Operating Margin | 27.60% |
| Return on Equity | 18.30% |
| Return on Assets | 9.54% |
| Revenue/Share (TTM) | $2.33 |
| Book Value | $3.13 |
| Price-to-Book | 3.92 |
| Price-to-Sales (TTM) | 5.41 |
| EV/Revenue | 4.596 |
| EV/EBITDA | 13.63 |
| Quarterly Earnings Growth (YoY) | 30.60% |
| Quarterly Revenue Growth (YoY) | 9.40% |
| Shares Outstanding | $1.15B |
| Float | $14.50B |
| % Insiders | 0.00% |
| % Institutions | 7.91% |
Volatility is currently expanding
SAP is linking cloud ERP, trusted data and embedded AI to autonomous workflows, but legacy declines and execution risks keep investors cautious.
SAP's valuation has reset after a steep selloff, but lower 2026 profit guidance and modest upside cloud the recovery case.
SAP is scaling agentic AI and usage-based cloud growth, but profit dilution, rising costs and long sales cycles keep execution risk in focus.
SAP's AI strategy and cloud momentum helped lift Q2 revenue, while strong backlog and reaffirmed growth targets offset a modest profit outlook cut.
SAP highlights AI expansion, cloud momentum and disciplined investments as it advances its Autonomous Enterprise strategy while balancing margins.
SAP reported strong Q2 results, highlighted by a robust GAAP EPS beat and sustained >20% cloud revenue growth. I see the Q2 earnings season as a catalyst for capital rotation toward laggards, notably in software and consumer sectors. SAP remains in a deep bear market, with shares down approximately 40% year-to-date despite operational strength and expectations of revenue acceleration in 2027.
Shares climbed after the group logged strong revenue figures, reassuring investors that growth at its cloud business remains healthy despite fears of AI disruption.
SAP NYSE: SAP reported a strong second quarter for 2026, with management highlighting accelerating current cloud backlog growth, continued cloud revenue gains and rising customer interest in the company's artificial intelligence offerings.
WALLDORF, Germany, July 23, 2026 /PRNewswire/ -- SAP SE (NYSE: SAP) announced today its financial results for the second quarter ended June 30, 2026. Current cloud backlog of €22.9 billion, up 27% and up 26% at constant currencies Cloud revenue up 22% and up 24% at constant currencies Cloud ERP Suite revenue up 25% and up 27% at constant currencies Total revenue up 9% and up 11% at constant currencies IFRS operating profit up 8%, non-IFRS operating profit up 7% and up 9% at constant currencies 2026 non-IFRS operating profit outlook updated to reflect dilutive impact from Dremio and Prior Labs acquisitions Christian Klein, CEO: We delivered another quarter of strong current cloud backlog growth, up 26% at constant currencies.
SAP's Q2 2026 results will test whether cloud growth, AI adoption and margin gains can offset slower cloud tailwinds and rising uncertainty.
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